FCA week in review October 2 – 6, 2023

A raft of enforcement fines and bans, including more relating to the BSPS, plus a policy statement on debt referral and a speech on AI regulation.

Enforcement

A fine of £6,470,600 has been imposed on ADM Investor Services International Limited (ADMISI) for inadequate AML systems and controls.

Concerns were first raised with the firm by the FCA in 2014 and it expected the firm, which has a high proportion of high-risk and politically-exposed clients, to make improvements.

ADMISI

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